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Vacation-Home Sales Hit Record in '06

By

Amy Hoak

Updated May 1, 2007 12:01 a.m. ET

A sharp drop in investment-home sales offset a record number of vacation-home purchases to bring down the overall number of second-home purchases in 2006, the National Association of Realtors reported.

Vacation-home sales rose 4.7% to a record 1.07 million homes in 2006 from 1.02 million in 2005. Investment-home sales fell 28.9% to 1.65 million homes in 2006 from 2.32 million in 2005, according to the group's annual survey of investment- and vacation-home buyers.